Mumbai, June 07: Tata Infotech has reported 29.46 per cent drop in net profit at Rs 20.50 crore for the financial year ended March 31, 2002, compared to Rs 26.54 crore in the previous fiscal.
The net sales/income from operations in the period under review also declined to Rs 475.58 crore as against Rs 515.07 crore in FY-01, the company said in a release here on Friday.

For the fourth quarter ended March 2002, the net profit fell to Rs 6.92 crore (Rs 12.58 crore in Q4 of last year) while net sales/income from operations stood at Rs 114.5 crore (Rs 138.82 crore), it added.

The company's revenue and profitability continued to be impacted in the second half of the year due to "greater than anticipated slowdown in its business, both in domestic and overseas markets," Tata Infotech said. Bureau Report